Salem Parkway Apartments

Salem Parkway Apartments is a 117-unit multifamily community offering investors the opportunity to acquire a stabilized asset at an attractive basis of approximately $111,100 per unit—well below estimated replacement cost. Recent ownership has invested more than $1.1 million in capital improvements, including extensive building envelope, roofing, parking lot, security, and mechanical upgrades, significantly reducing near-term capital expenditure needs while select renovated interiors provide additional upside. Situated on three tax lots, the property also offers a rare value-add component through the potential for future expansion, with preliminary plans envisioning an additional 62 units. Complementing its strong physical fundamentals, Salem Parkway benefits from professional on-site management, ample parking, and a desirable North Salem location with convenient access to Interstate 5, major employers, shopping, dining, recreation, and public transit, supporting long-term occupancy and stable cash flow.